Bitcoin’s recent halving has captured the attention of many investors, who are eagerly awaiting a potential surge in its price. However, instead of focusing solely on Bitcoin, investors are now turning their attention to alternative cryptocurrencies such as Ethereum, Shiba Inu, and Terra (LUNA).
Is It Time to Buy Ethereum?
A major development in the cryptocurrency market has caused a stir among investors. Franklin’s ETF listing, known as EZET, has generated excitement and anticipation. As a result, Ethereum (ETH), which had been experiencing a decline, has seen a notable price recovery. Currently, ETH is trading at $3,247, representing a 3% increase. This positive momentum has also influenced the weekly outlook, with a 3% increase on a weekly basis. However, investors are still cautious due to ETH’s all-time high in 2021 and its recent peak of $4,000 last month. While many analysts predict potential price rises for ETH, it’s important to consider the impact of geopolitical and macroeconomic factors, which could potentially lead to price falls.
The Future of Shiba Inu
Meme coins, which have gained popularity among investors seeking significant cryptocurrency gains, continue to dominate the market. Shiba Inu (SHIB), the biggest competitor to Dogecoin (DOGE), remains strong as the 11th largest cryptocurrency by market cap. Despite recent burns, which have seen a surge of over 2000% and another increase of over 900%, SHIB’s price has not experienced the expected rise. Currently, it is trading at $0.00002471, following a 3% drop. However, the company’s key figure, LUCIE, has made statements about future innovations, such as Shibarium and Layer-3, which are aimed at boosting SHIB’s price.
What is Terra (LUNA)’s Current Price?
In May 2022, Do Kwon and the Terra Foundation caused a significant disruption in the market. However, following a historic peak, Terra (LUNA) failed to recover and experienced a significant decline. Currently, LUNA’s price has fallen to $0.6147, representing a modest decrease of 0.82% over the last 24 hours. Its market cap has also dropped to $444 million, ranking it 150th in the market. Additionally, the 24-hour trading volume has decreased by 35%, now at $23 million.
Disclaimer:
This article does not provide investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry a level of risk. It is important for investors to conduct their own research and make informed decisions.
